The U.S. Chamber: Agenda Set by CEOs Special Interests, Not Main Street Small Business

The U.S. Chamber of Commerce repeatedly claims that its agenda represents the interests of small businesses. However, recent investigations have shown that a relatively small number of large contributors dominate the U.S. Chamber’s funding. Meanwhile “Main Street” Chambers of Commerce – the organizations most small businesses join, participate in, and support – have begun distancing themselves from the national organization in Washington, D.C. This is because the U.S. Chamber increasingly puts the extreme agenda of Wall Street, CEOs and health insurers above the needs of Main Street businesses.

U.S. Chamber Campaigns Are Funded By Largest Special Interests

Largest Health Insurance Companies Paid Up To $20 Million for Anonymous Anti-Health Care Reform Ads. In January 2010, National Journal uncovered the fact that ads run by the U.S. Chamber of Commerce were actually paid for in large part by the health insurance industry. According to the report, five insurance companies anonymously gave the U.S. Chamber $20 million to fund ads against health reform at the same time that the companies’ trade group, AHIP, was insisting that they supported health reform. [National Journal “Under the Influence” Blog, 1/12/2010]

U.S. Chamber Lobbies for Wall Street Bonuses. The U.S. Chamber has vocally opposed any limits on the astronomical bonuses CEOs and Wall Street Executives receive – even those at firms like AIG which received taxpayer help to weather the crisis of 2008-09. U.S. Chamber CEO Tom Donohue defended the bonuses saying those receiving multi-million dollar bonuses are “very unique kinds of people.They are like mad scientists.” [Reuters, 1/12/2009]. The U.S. Chamber has written numerous letters to Congress, the SEC and the Obama Administration defending CEO bonuses against limits set by policymakers. [Chamber Letters of 9/8/2009 (SEC); 7/30/2009 (House of Representatives) and 2/6/2009 (Treas. Sec. Timothy Geithner).